Mydoh introduces a new financial concept to families

The first mass campaign from an RBC Ventures brand is for an app that digitizes allowance to teach kids financial literacy.

Mydoh, a new platform for children from RBC Ventures, has launched its first brand campaign to raise awareness for a tool it believes will help parents teach their kids money management skills.

Essentially a smartphone app that allows parents to digitize the distribution of allowances, Mydoh lets parents assign household tasks and dole out payments via a “pay day” structure that teaches kids the value of money and its relationship to labour. Those kids then have access to a Smart Cash Card, as well as a digital wallet through the app, so that they can spend money they’ve earned. Parents can monitor and react to their spending directly in app, while also having the ability to lock the card instantly.

Kids can also learn about other financial concepts, such as credit and budgeting, through the app’s “Play” feature, which uses games and trivia to educate.

“Mydoh is a new name, in a brand new category – for most parents, having grown up in an age where tools for financial literacy really didn’t exist for them as kids,” explains Jeff MacEachern, CCO at Arrivals + Departures, the ad agency that worked on the campaign. “We want to show parents just how easy it can be to raise money-smart kids with Mydoh in their back pocket.”

“We know when we explain Mydoh to parents, that we have something special here that will help them set their children up with good financial habits,” adds Dawn Bednarski, head of marketing for RBC Ventures. “We just need more Canadian parents to know we have this solution with Mydoh, and how easily it fits into their family’s busy lives.”

This is the first mass, integrated marketing effort from RBC Ventures, which has 14 different ventures tailored to specific purposes beyond traditional banking needs. It will run primarily on TV and OOH, supported by paid digital over a variety of media.

Initiative Media handled the plan and buying.